Consider the forecasts described below compute mad and mfe

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Reference no: EM13390102

1) Consider the forecasts shown below. Calculate MAD and MFE using the data for months January through June. Does the model over or under forecast? Comment on the importance of this.

Month	Actual Demand	Forecast	Forecast Error	Absolute Forecast Error
Jan	1040	1055	-15	15
Feb	990	1052	-62	62
Mar	980	900	80	80
Apr	1060	1025	35	35
May	1080	1100	-20	20
Jun	1000	1050	-50	50
Totals

Reference no: EM13390102

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